Blue Trust Inc. Sells 4,231 Shares of Conagra Brands, Inc. (NYSE:CAG)

Blue Trust Inc. trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG) by 54.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,593 shares of the company’s stock after selling 4,231 shares during the quarter. Blue Trust Inc.’s holdings in Conagra Brands were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its position in Conagra Brands by 46.3% in the third quarter. Sequoia Financial Advisors LLC now owns 17,979 shares of the company’s stock worth $585,000 after purchasing an additional 5,693 shares during the period. International Assets Investment Management LLC bought a new position in Conagra Brands in the third quarter worth $3,449,000. IFM Investors Pty Ltd lifted its position in Conagra Brands by 3.7% in the third quarter. IFM Investors Pty Ltd now owns 102,314 shares of the company’s stock worth $3,327,000 after purchasing an additional 3,675 shares during the period. Tectonic Advisors LLC lifted its position in Conagra Brands by 18.0% in the third quarter. Tectonic Advisors LLC now owns 16,286 shares of the company’s stock worth $530,000 after purchasing an additional 2,481 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Conagra Brands by 42.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,974 shares of the company’s stock worth $1,493,000 after purchasing an additional 13,654 shares during the period. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $25.82 on Friday. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. The firm has a market cap of $12.32 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The business has a fifty day moving average of $26.15 and a 200-day moving average of $28.53.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.42%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Analyst Upgrades and Downgrades

CAG has been the subject of several research reports. Barclays reduced their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. JPMorgan Chase & Co. reduced their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $29.78.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.